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DBS Singapore MT760 VERBIAGE For MXTF PLATFORM
DBS Singapore MT760 VERBIAGE For MXTF PLATFORM
NARRATIVE:
FOR THE VALUE RECEIVED, WE ___________ BANK, WITH ADDRESS AT: ________________, HEREBY
IRREVOCABLY AND UNCONDITIONALLY, WITHOUT PROTEST OR NOTIFICATION PROMISE AND GUARANTEE
TO PAY ON TIME, IN FULL AND WITHOUT DELAY, AGAINST THIS STANDBY LETTER OF CREDIT IN FAVOUR OF
BENEFICIARY THE BEARER OR HOLDER THEREOF, AT MATURITY, THE SUM OF FIVE HUNDRED MILLION
EUROS (€ XXX,000,000.00) IN THE LAWFUL CURRENCY OF THE EUROPEAN UNION.
WE CONFIRM WITH FULL BANKING RESPONSIBILITY THAT THE FUNDS THAT ARE BACKING THIS STANDBY
LETTER OF CREDIT ARE AND WILL BE FREE AND UNENCUMBERED READY FOR WITHDRAWAL AS CASH AT
ANY TIME AS THIS STANDBY LETTER OF CREDIT IS PRESENTED AND CALLED UPON. SUCH PAYMENT WILL
BE UPON PRESENTATION AND SURRENDER OF THIS STANDBY LETTER OF CREDIT AT THE OFFICE OF
__________BANK, WITHOUT SETOFF AND FREE AND CLEAR OF ANY DEDUCTIONS, CHARGES, FEE OR
WITHHOLDING OF ANY NATURE NOW OR HEREAFTER IMPOSED, LEVIED, COLLECTED, WITHHELD OR
ASSESSED BY THE GOVERNMENT OF THE ISSUING OR PAYING BANK OR ANY POLITICAL SUBDIVISION OR
AUTHORITY THEREOF OR THEREIN.
THIS STANDBY LETTER OF CREDIT IS TRANSFERABLE, ASSIGNABLE AND DIVISIBLE WITHOUT
PRESENTATION TO US. THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE UNIFORM RULES FOR DEMAND
GUARANTEE (URDG) FORMAT 758, UNDER THE INTERNATIONAL CHAMBER OF COMMERCE, PARIS, FRANCE,
PUBLICATION NO. 600.
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